Solidarity has always been an important element of European integration law and with the Treaty of Lisbon this principle has received even more prominence. But what does this concept mean and how should it be implemented? Within several areas of European integration law, for example regional...

This contribution is a commentary on Article 111 European Community Treaty (TEC). This provision concerns several aspects of the European Community's external monetary policy, namely the exchange rate systems and policies in relation to non-Community currencies, the agreements concerning...

This paper is an examination of the legal basis of Economic and Monetary Union. The law stated therein was up to date on 12 February 1997. Since almost all of the EC Treaty provisions have been left entirely unamended since that date, the paper retains much of its relevance, although readers...

Zusammenfassung Dieser Beitrag liefert einen Uberblick über die Bedeutung asymmetrischer makroökonomischer Strukturen in den EWU Mitgliedsländern für die einheitliche Geldpolitik. Zunächst wird im Rahmen eines Modells illustriert, welche grundsätzliche Bedeutung asymmetrischen...

Two seemingly unconnected empirical results suggest an intriguing mechanism. First, economic integration helps harmonize prices internationally, with trade being the primary channel (Rogoff 1996, Goldberg and Knetter 1997). Second, monetary union may greatly increase the amount of trade among...